Can one please explain in simple english what actually happened? I did read that fitbit was interested in buying pebble. I assumed it will be like apple buying beats, and pebble will continue as usual.
Is fitbit shutting down pebble as pebble is a superior product over the crappy fitbits?
The core strength of Pebble was its simple OS and energy efficient device. I hope they opensource the OS.
Pebble is bankrupt. It owes more money to people/companies than it has/is owed. People whom Pebble owes money to ("creditors") will be ordered in a list. FitBit is buying some of the assets (software, IP, etc.). The proceeds from this sale will go to their creditors, proceeding down the list. The creditors at the end of the list won't get any of the money that they are owed.
The founders and investors walk away with nothing because the company's value is negative. Limited liability means that they are not personally on the hook for any of the debts.
Pebble is winding down operations. Warranty, support, &c. stops because Pebble as an entity will cease to exist. FitBit isn't buying Pebble the entity, it is buying some of the things of value which Pebble the entity owned.
TL;DR: Pebble run out of money and can't fulfill orders anymore. Fitbit has bought their IP and has offered jobs to about 40% of Pebble's employees, while Pebble the company is shutting down. No orders will be fulfilled anymore; Kickstarter backers will get refunds. Fitbit is phasing out Pebble's product line. As for what they will do with the IP, only time will tell.
Is fitbit shutting down pebble as pebble is a superior product over the crappy fitbits?
The core strength of Pebble was its simple OS and energy efficient device. I hope they opensource the OS.